Spire Wealth Management Has $29,000 Holdings in Parsons Co. (NYSE:PSN)

Spire Wealth Management reduced its stake in Parsons Co. (NYSE:PSN - Free Report) by 96.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 317 shares of the company's stock after selling 9,909 shares during the period. Spire Wealth Management's holdings in Parsons were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PSN. ORG Wealth Partners LLC acquired a new position in Parsons during the 4th quarter worth $26,000. GAMMA Investing LLC raised its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after acquiring an additional 218 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Parsons during the 3rd quarter valued at $30,000. V Square Quantitative Management LLC bought a new stake in shares of Parsons during the 3rd quarter valued at $33,000. Finally, R Squared Ltd bought a new stake in shares of Parsons during the 4th quarter valued at $38,000. 98.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Raymond James cut shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Jefferies Financial Group dropped their target price on shares of Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, January 24th. KeyCorp lowered their price objective on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. TD Cowen lowered their price objective on shares of Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial lowered their price objective on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $107.33.

Parsons Stock Down 3.3 %

PSN stock traded down $2.49 during trading hours on Thursday, reaching $73.47. 1,389,653 shares of the stock were exchanged, compared to its average volume of 1,320,150. The firm's 50-day moving average is $89.88 and its 200-day moving average is $96.10. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 111.31, a PEG ratio of 1.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons Co. has a 12 month low of $70.40 and a 12 month high of $114.68.

Parsons Company Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.